In this guest post, David Willey (pictured below), director and founder of Growth Tank and the Millennials Marketing Conference, shares his top tips on how brands can stand out amongst their competitors and build relationships with Gen Y customers.
In today’s saturated market, Millennials have unlimited choices when it comes to purchasing decisions. Brands are struggling to retain this highly influential band of consumers, as they have not implemented effective multi-channel strategies that resonate with Millennials.
In order for brands to establish customer loyalty, they need to abandon the ‘one size fits all’ approach and connect with Millennials individually and personally.
Here are my top tips to garner loyalty with your customers:
Deliver an emotional impact
Motivated by experiences, sharing, diversity and happiness, Millennials have a strong sense of purpose and actively connect with brands that give them something to believe in and act on. Brands that openly share their values will drive deeper emotional connections with Millennial consumers who also possess those same values. The ability to express themselves through your brand will gain and maintain their loyalty. Having sustainable products is a good start – Millennials are big believers in going green and support industries that are environmentally friendly.
Encourage social testimony
Millennials tend to seek advice from friends and family that have tried and tested a product or service. Outside of this inner-circle, Millennials will consult ‘real’ reviews online, particularly through social media and industry apps. As the new word-of-mouth marketing, social media is the generator of customer engagement, reactions and recommendations. Brands that increase their social media presence are more likely to gain organic social proof from Millennials, motivating other potential customers to follow suit.
Interact with your audience
Customer journeys are no longer one-way; brands must adopt a strategy that incorporates a personalised communication with their consumer base. Use social media as an interaction tool as opposed to a commercial marketing scheme. Convey authenticity and this will positively boost your brand among millennial consumers. Ensure that customers can rate your products or services on your social pages and provide personal feedback acknowledging people’s reviews (both the positive and negative).
Incorporate experiences into your strategy
Millennials are known for being the generation that have decreased value for ownership of material goods. They thrive on experiences as a way to connect with brands and like-minded communities, sharing the content online and fuelling their social lifestyle. An expensive option, there are ways for businesses to still take advantage of experiences without actually having to organise an event. Promote your products as enhancements for experiences through your multiple social media channels and you will be welcomed by Millennial consumers.
Millennials can be a difficult generation to please, and competing for their attention is only the first step in securing their loyalty. It has never been more important to stand out among similar brands and build relationships with your Millennial consumers. Work on earning their trust and respect and they will repay you in loyalty.